France’s AXA IM - Real Assets, ESR form JV, buy $919 mln assets in Japan

AXA Investment Managers - Real Assets (AXA IM - Real Assets) , a unit of Paris-based investment firm AXA Investment Managers S.A., and Hong Kong-based logistics real estate platform ESR have launched a new joint venture (JV) via the acquisition of six logistics assets in Japan for over 100 billion yen ($919 million).

The five assets with 37,700 square meters are located in the Greater Tokyo area and one within the Greater Osaka region.

The new JV will seek further investment and development opportunities across Japan’s gateways cities.

The JV, which will also focus on modern logistics facilities, will have access to ESR’s development pipeline of distribution assets across Japan’s cities.